Africa’s Cross-Border Payments Market to Hit $1T by 2035

BREAKING NEWSMay 28, 2025 at 12:55 PM UTC

TLDR

Africa’s cross-border payments market is projected to triple in size over the next decade, reaching $1 trillion by 2035, up from $329 billion in 2025
This surge, driven by a 12% compound annual growth rate (CAGR), underscores the continent’s accelerating shift from legacy banking rails to digital-first payment infrastructure
The full realization of this $1 trillion market opportunity depends on continued regulatory reforms, interoperability, and infrastructure upgrades.

Africa’s cross-border payments market is projected to triple in size over the next decade, reaching $1 trillion by 2035, up from $329 billion in 2025, according to a new report by Oui Capital, an Africa-focused venture capital firm. This surge, driven by a 12% compound annual growth rate (CAGR), underscores the continent’s accelerating shift from legacy banking rails to digital-first payment infrastructure.

The report identifies mobile money platforms, fintech APIs, blockchain solutions, and rising migration and urbanisation as key catalysts transforming how money moves across African borders. Legacy systems—heavily reliant on SWIFT and correspondent banks—continue to dominate but are being rapidly disrupted by mobile and digital alternatives offering faster, cheaper, and more accessible services.

In 2023, remittance inflows into Africa reached $100 billion, equivalent to 5.2% of GDP, yet up to 75% of Sub-Saharan Africa’s flows remain informal due to high fees averaging 7–8%. Digital wallets and neobanks now offer rates closer to 3.5%, while blockchain-based platforms like Afriex and Bitnob process transactions at 0–1% fees, often in minutes.

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Key Takeaways

Africa’s remittance and cross-border payment space is undergoing a structural transformation. With over 781 million mobile money accounts and annual transaction volumes of $837 billion, the continent leads global mobile money adoption. Services like M-Pesa, MTN MoMo, and Airtel Money are helping to formalise the once-cash-dominated remittance ecosystem, processing about 30% of Sub-Saharan remittance volume with fees as low as 1.5%–3%. The report notes that digital wallets, stablecoins, and blockchain infrastructure are gaining momentum, making instant, low-cost transfers viable for Africa’s high-frequency, low-value transaction patterns. Platforms such as Chipper Cash, Afriex, and Stellar-powered services are challenging traditional rails by offering settlement within minutes versus several days via SWIFT and reducing total transaction fees to nearly zero. However, the full realization of this $1 trillion market opportunity depends on continued regulatory reforms, interoperability, and infrastructure upgrades.

Fintech

Startups

Cross-Border Payments

Oui Capital

Venture Capital